Tesla one particular model dominates the fastest-selling used cars in today's market amid a 10.5% used car price increase.
According to iSeeCars the fastest-selling used car is the Tesla Model Y, topping a list that is dominated by alternative-fuel vehicles.
By the way, the fastest selling used car list is ruled by electric vehicles and hybrids.
“Both new and used car prices rose in June over May as inventory constraints continue to plague the new and used car market. Rising interest rates and high gas prices have also heightened demand for more efficient and affordable vehicles,” said iSeeCars Executive Analyst Karl Brauer.
Maria Merano from Teslarati notes that despite being well above the price of the average used car, the Tesla Model Y was the best-selling vehicle in the market. Used Tesla Model Y vehicles sold for an average price of $69,784. For comparison, a new Tesla Model Y AWD Long Range costs $65,990, while the Performance variant starts at $69,990—as of this writing.
This makes some people concerned about the new prices of the used Model Y Teslas.
"Because of this price hike bubble, I will not be buying any new (or new for me, used) vehicle this year, if I can help it. It makes sense why used Teslas would hold their value well because they are not subsidized, so used prices can stay high. Plus, low maintenance costs mean that adding mileage won't affect the Tesla's value as much, compared to gas powered cars," writes Dean McManis, who has regularly contributed EV articles at Torque News.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.